A serious injury can leave you in a terrible situation. First of all, there’s the immediate medical pain and discomfort of living with an injury. It’s tough on you, and those around you. But, as the medical problems die down, you’re left with a big financial hole in your life. An injury can leave you out of work for months at a time. It can also leave you with a long list of medical expenses and bills to pay. Here at Finance Category, we’re determined to help people manage their money, especially in tricky times.
If you’ve been involved in an accident, no matter how big or small, you can claim back the money you’re owed. It’s a little way of helping you get back on your feet, and filling the hole left by the accident. We spoke to Zaner Harden lawyers, who are experts in personal injury compensation to find out more. Here’s how you can get your finances back on track.
Contact a lawyer immediately
The very first thing to do is contact a lawyer. They will help you navigate the entire process from start to finish. Compensation and insurance documents are long-winded, and tricky to understand. With a lawyer helping you along, you’ll take the right steps at each stage of the journey. They’re also a force to be reckoned with when dealing with insurers. That makes it much more likely they’ll pay up appropriately.
Calculate your medical costs
It’s the lawyer’s job to ensure you’re getting every penny of the money you’re entitled to. That means keeping an eye on every outgoing, and every expense. Let’s start with medical expenses. If you received an injury, you may have had immediate or emergency care. There may have been a week in hospital or a period of treatments. Those costs are easy to add up. However, don’t forget to include the cost of any repeat prescriptions. Don’t forget about any ongoing treatments, physiotherapy, and outpatient costs. It all adds up.
Loss of earnings
It’s inevitable that, while you’re injured, you’ll have to take some time off work. Now, some companies offer their employees a certain allowance of ‘sick-days’ at full pay. After a while, you’ll begin to lose money, and could leave you in crippling debt. It’s this loss of earnings that you can claim back as part of your compensation claim. It’s best to seek advice from a lawyer when doing these sums, as it can be tricky to get right.
The hardest aspect of all is calculating the future impact and costs. Will this injury prohibit you from working at full capacity ever again? That’s going to damage your earning potential, and that must be taken into account. Are you likely to need alterations to your home to accommodate the long-term injury? Are there ongoing medical fees that will continue to mount up? All these things add up to a large settlement.
A serious injury is hard to come to terms with. Don’t let the worry of money compound that further. Seek advice from a lawyer, and ensure you stay in control of your finances.
Category: Personal Finance